OneConstruction Group Ltd (NASDAQ: ONEG)

Sector: Industrials Industry: Engineering & Construction CIK: 0002030834
Market Cap 56.38 Mn
P/B 4.46
P/E -118.68
P/S 1.08
ROIC (Qtr) 0.00
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 24.66 Mn
Debt/Equity (Qtr) 1.95

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 4.78M provide 2.49x coverage of short-term debt 1.92M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 49.93M provide exceptional 207.18x coverage of deferred revenue 241000, showing strong service capability backing.
  • Tangible assets of 49.93M provide robust 132.44x coverage of other current liabilities 377000, indicating strong asset backing.
  • Strong cash position of 4.78M provides 12.67x coverage of other current liabilities 377000, indicating excellent liquidity.
  • Retained earnings of 6.37M provide strong 16.89x coverage of other current liabilities 377000, indicating earnings quality.

Bear case

  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 241000, which is 0x, raising concerns about future service delivery capabilities.
  • Tax assets of 38000 provide limited offset against tax liabilities of 136000, which is 0.28x, indicating potential future cash flow pressure from tax obligations.
  • Cash position of 4.78M provides weak coverage of payables of 12.24M, which is 0.39x, indicating potential working capital stress and supplier relationship risks.
  • Operating cash flow of 0 provides minimal 0x coverage of tax expenses of 477000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Tangible assets of 49.93M provide limited backing for working capital of 34.73M, which is 1.44x, suggesting increased operational risk in market downturns.

Peer comparison

Companies in the Engineering & Construction
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 PWR Quanta Services, Inc. 67.29 Bn 138.47 5.18 6.02 Bn
2 FER Ferrovial SE 52.08 Bn 189.56 5.95 -
3 EME EMCOR Group, Inc. 48.16 Bn 357.05 7.52 0.42 Bn
4 FIX Comfort Systems Usa Inc 45.71 Bn 4,991.17 39.02 0.39 Bn
5 MTZ Mastec Inc 19.03 Bn 57.48 1.38 2.77 Bn
6 APG APi Group Corp 17.83 Bn 114.31 2.33 3.05 Bn
7 J Jacobs Solutions Inc. 17.05 Bn 39.38 1.38 2.96 Bn
8 BLD TopBuild Corp 14.16 Bn 24.94 2.70 3.09 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.60 1.73
EV to Cash from Ops. EV/CFO -15.56 61.77
EV to Debt EV to Debt 3.24 13.28
EV to EBIT EV/EBIT 166.06 74.48
EV to EBITDA EV/EBITDA 47.55 39.60
EV to Free Cash Flow [EV/FCF] EV/FCF -15.56 143.23
EV to Market Cap EV to Market Cap 1.42 1.16
EV to Revenue EV/Rev 1.53 2.68
Price to Book Value [P/B] P/B 4.46 9.64
Price to Earnings [P/E] P/E -118.68 142.37
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 2.57
Dividend Payout Ratio % Dividend Payout Ratio % 0.00 35.52
Dividend per Basic Share Div per Share (Qtr) 0.00 0.24
FCF Dividend Payout Ratio % FCF Dividend Payout Ratio % 0.00 5.38
Interest Coverage Interest Coverage 1.00 80.51
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex Growth (1y) % 0.00 -168.92
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 985.68 655.79
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 6.41
EBIAT Growth (1y) % EBIAT Growth (1y) % -6,104.48 -38.03
EBITDA Growth (1y) % EBITDA Growth (1y) % 0.00 14.77
EBIT Growth (1y) % EBIT Growth (1y) % -69.92 75.79
EBT Growth (1y) % EBT Growth (1y) % -99.83 29.61
EPS Growth (1y) % EPS Growth (1y) % -129.92 56.98
FCF Growth (1y) % FCF Growth (1y) % 0.00 -16.53
Gross Profit Growth (1y) % Gross Profit Growth (1y) % -20.35 31.33
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Utilization Ratio 1.05 1.14
Cash Payout Ratio Cash Payout Ratio 0.00 0.05
Cash Ratio Cash Ratio (Qtr) 0.33 0.39
Current Ratio Curr Ratio (Qtr) 3.39 1.55
Debt to Equity Ratio Debt/Equity (Qtr) 1.95 0.90
Interest Cover Ratio Interest Cover Ratio 1.00 80.51
Times Interest Earned Times Interest Earned 1.00 80.51
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % 0.00 0.96
EBIT Margin % EBIT Margin % 0.92 -3.15
EBT Margin % EBT Margin % 0.00 -5.46
Gross Margin % Gross Margin % 7.30 20.28
Net Profit Margin % Net Profit Margin % -0.90 -6.83